Nigeria and France Partner on €300m Infrastructure and Agriculture Project

€300m Nigeria-France Agreement to Boost Infrastructure and Agriculture

“The two countries affirmed their commitment to work together on investment and development of...”

Nigeria and France sign a €300m agreement to support key investments in infrastructure and agriculture, boosting economic cooperation between the two nations.

Nigerian President Bola Tinubu and French President Emmanuel Macron have committed to a significant partnership, pledging over €300 million in financial and technical assistance programs to support key investments in Nigeria. This announcement was made public through a statement signed by Bayo Onanuga, Special Adviser to the President.

The commitment is rooted in two landmark agreements signed between the leaders on November 28 in Paris. These agreements aim to foster a robust partnership focused on developing vital infrastructure and ensuring the long-term sustainability of agriculture and food security in Nigeria. The partnership will also stimulate economic growth through sustainable projects in urban infrastructure, transportation, housing, education, agriculture, and healthcare.

Some of the key areas of focus for the partnership include:

Agriculture and Food Security: Supporting the development of agro-logistic hubs to improve agriculture and food security in Nigeria.

Infrastructure Development: Investing in critical infrastructure, including urban infrastructure, transportation, and housing.

Economic Growth: Stimulating economic growth through sustainable projects in key sectors, including education and healthcare.

These agreements mark a significant milestone in the bilateral relationship between Nigeria and France, and are expected to have a positive impact on Nigeria's economic development.

The Nigerian presidency stated that the agreements were formalized with the signing of a Letter of Intent by Nigeria's Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and French Minister of Economy, Finance, and Industry, Mr. Antoine Armand.

The letter outlines several key investment areas in Nigeria's sectors, as stated by the presidency.

“The two countries affirmed their commitment to work together on investment and development of critical infrastructure, healthcare, transportation, agricultural value chains, renewable energy, and human capital development, through diverse financial and technical assistance programs, of over €300 million, spread across all geopolitical zones in the country,” The letter stated.